EUR/USD Is Moving to the Upside

EUR/USD was stuck in a very tight sideways consolidation on Friday, forming a distinct doji candlestick on the daily time-frame, but today the pair finally started moving again after forming an impressive inverted hammer candlestick on the four-hour time-frame at the support at 1.0615 and moving to the upside. The pair’s closest target is obviously at 1.0655, which coincides with the (MA)89 indicator on the same four-hour time-frame. A breakout above that level will likely lead to a further move to the upside towards the same indicator, but on the daily time-frame, which is at 1.0690. Whether or not the pair will breakout above that resistance too remains to be seen.